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Caspian has secured an investment from Nasdaq Ventures to support its growth.
Chloe Shakesby

Newcastle financial firm secures investment for ongoing expansion

A Newcastle based financial crime investigation firm has announced that it has an investment from an international markets business.

Caspian has secured an investment from Nasdaq Ventures, as Nasdaq’s Market Technology business has partnered with Caspian to support its growth.

The funding will help Caspian accelerate its product expansion and the scale of its platform, as well as the creation of a number of new jobs.

Gary Offner, head of Nasdaq Ventures, commented: “One feature that is critical to the health and integrity of the financial industry is detecting, mitigating and managing fraudulent and criminal behaviour.

“Caspian has been at the forefront of this process through its forward-thinking technology leadership and we believe their offering greatly improves the regtech ecosystem for banks and regulators, and ultimately the consumer.

“We are excited to align our investment interests with our business mission to jointly strengthen the fight against financial crime through our collaboration with Caspian.”

Chris Brannigan, chief executive at Caspian, added: “Caspian’s proven solution solves a huge pain point in the industry, dramatically increasing analyst productivity and resulting in meaningful cost-savings for bank compliance teams.

“Our machine learning technology is validated through production use at global financial institutions, making risk decisions that are fully explainable and regulator friendly.

“Through the investment and partnership with Nasdaq we are excited to expand our offering at a global scale.”

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